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See our simple, animated definitions of types of corruption and the ways to challenge it. Bitcoin and the blockchain technology that drives it are among the most disruptive digital innovations to have emerged in recent years.
Depending who you ask, these technologies are either potential catalysts for transnational crime, or potential tools in the fight against corruption. The truth, however, lies somewhere in between.
One example of a cryptocurrency, bitcoin is a decentralised digital currency based on a peer-to-peer payment system built on cryptographic principles. Rather than data being stored on one central server, it is simultaneously stored on nodes in a system where each node communicates with the others to record and verify each transaction. Information is publicly recorded in ‘blocks’. Read more from transparency.org…
thumbnail courtesy of transparency.org